Indonesia’s Financial Services Authority (OJK) has introduced 39 investor classifications in the capital market, up from the previous nine. The change was coordinated with KSEI, stock exchange members, and custodian banks to strengthen oversight. The expansion is part of reforms to enhance transparency and investor profiling. It follows MSCI’s decision to freeze rebalancing of Indonesian equity indices until May 2026. The new categories cover institutions, organizations, and individuals, offering a more detailed view of market participants.
Key Facts & Background
- Previous Classification: 9 investor categories.
- New Classification: Expanded to 39 categories, including banks, sovereign wealth funds, venture capital, cooperatives, political parties, pension funds, insurance, foundations, and individuals.
- Regulatory Context: Reform announced during OJK’s transparency initiative at the Indonesia Stock Exchange (BEI) in April 2026.
- MSCI Impact: Morgan Stanley Capital International (MSCI) froze rebalancing and evaluation of Indonesian equity indices until May 2026, citing transparency concerns.
- Institutional Coordination: OJK worked with KSEI, custodian banks, and brokerage firms to implement the new classification system.
- Investor Diversity: Categories now include state-owned enterprises, central banks, international organizations, and social associations, reflecting broader participation in the capital market.
The following are the 39 classifications of shareholder groups that will be disclosed through KSEI’s investor data:
1. Bank
2. Government
3. Private Equity
4. Trustee Bank
5. Venture Capital
6. Private Bank
7. Exchange Traded Funds (ETF)
8. Investment Manager
9. Investment Advisors
10. Brokerage Firms
11. Hedge Fund
12. Sovereign Wealth Fund
13. Capital Market Supporting Institutions and Professions
14. Commanditaire Vennootschap (CV) / Limited Partnership
15. Firm
16. Investment Fund Selling Agent
17. Peer-to-Peer Lending
18. Permanent Establishment
19. Sole Proprietorship
20. Corporate
21. Associations / Social Organizations
22. State-Owned Enterprises
23. Central Bank
24. State-Owned Company
25. Diocese
26. Conference
27. Congregation
28. Cooperatives
29. International Organization
30. Political Parties
31. Partnership
32. Educational Institution
33. Mutual Funds (MF)
34. Securities Company (SC)
35. Pension Funds (PF)
36. Financial Institution (IB)
37. Insurance (IS)
38. Foundation (FD)
39. Individual (ID)
Note: Multi-source AI data analytics, with the possibility of inaccuracies.